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What is your view on the Occupy Wall Street Protests
All true. Clinton repealed the Glass-Steagall Act, and allowed derivatives to be unregulated. The advocates for that, however, were Graham-Leach-Biliey. Everybody has his hand in the pie.
Also, the financial institutions were allowed to leverage up 30-40:1 in 2004 or 5 (don't recall atm), turning a Bang into a KA-BOOM!
That actually points out the problem in the whole financial meltdown, because the front-man gets switched but a lot of the guys standing behind the curtain ended up being kept on anyway. You'd think that William Black, who has experience with the S&L would be called upon, but nope.
Regarding Scott Olsen, the man injured at the Occupy Oakland protest, I am sorry that he and anyone else got injured during that protest. I have a lot of respect for the Marines but apparently this guy didn't:
The crux of the problem is if, as in this this article, Law Expert: MERS Mess Could Have “a Massive Effect on the Economy” | FDL News Desk
the statement "While MERS stipulates that the servicers must convey the promissory notes to MERS, it appears they didn’t do that in all or even most cases, and the underlying paperwork could be lost." is true.
If they were required to pass on the promissory notes but "lost" them, then they were not conducting their business in a competent/legal way. MERS is said to hold 60 million mortgages. That's a lot of mistakes.
What is supposed to happen to businesses that do not conduct their business in a competent/legal way in a capitalist economy?
No one is saying redistribute the wealth soviet style, just make it a level playing feild. The rich 1% should play by the same rules the 99% of us are asked to.
Let's face it. The current system is a farce. It is beyond hope for poor who have been conned into cheering for the rich. For the slowly awakening, non face book gazing, rest of America it is now or never to reclaim what has been stolen from them - hope for a better future for themselves and their children. Of course for some of these protesters it is about nihilism. Antipathetic. They will always be there no matter what the event . That should not diminish or distract from the greater common cause. Respect for Rule of Law. But pacifism and refusal to participate in the system are the only real tools to effect change . So Stop shopping. Put your money in a local bank or a safe in your house. Cancel you cable tv. Withdraw from the system. If anything buy local and not big box. Soldiers are sacrificing their lives abroad. They are overly represented among the homeless once they return. Support the troops . Respect the law. Be a peaceful non shopping army of one. Everything else will be villified by the media and special interest groups that maintain the false divides in the populace. Peace. Out.
